By Jaime Llinares Taboada

 

Antofagasta PLC said Thursday that the capital cost estimate for its Centinela Second Concentrator Plant project in Chile has been revised to $3.7 billion from the previous $2.7 billion.

The mining company said this increase reflects design improvements, inflation, and the results of advanced engineering and a detailed execution plan.

Antofagasta is set to make a decision on whether to proceed with the project in early 2023.

The first phase of the project would add annual production capacity of 180,000 metric tons of copper equivalent. A further expansion would increase output to 250,000 tons a year.

As for the Los Pelambres project, Antofagasta said that the desalination plant remains on track for completion in the fourth quarter of 2022, with the concentrator plant expansion expected in early 2023.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

August 11, 2022 02:44 ET (06:44 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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